Fuel Tech (NASDAQ:FTEK) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report sent to investors on Thursday morning. The brokerage issued a hold rating on the industrial products company’s stock.

Separately, HC Wainwright reissued a buy rating and set a $4.00 target price on shares of Fuel Tech in a research note on Wednesday, March 13th.

Fuel Tech Trading Down 0.4 %

Shares of NASDAQ FTEK opened at $1.25 on Thursday. Fuel Tech has a 12-month low of $0.96 and a 12-month high of $1.48. The company has a market cap of $37.99 million, a price-to-earnings ratio of -25.00 and a beta of 4.21. The stock’s 50 day simple moving average is $1.17 and its 200 day simple moving average is $1.10.

Fuel Tech (NASDAQ:FTEK) last issued its earnings results on Monday, March 11th. The industrial products company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01. Fuel Tech had a negative return on equity of 3.49% and a negative net margin of 5.68%. The firm had revenue of $6.35 million for the quarter, compared to analyst estimates of $6.90 million. As a group, equities analysts forecast that Fuel Tech will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FTEK. Grace & White Inc. NY increased its holdings in shares of Fuel Tech by 1.5% during the third quarter. Grace & White Inc. NY now owns 1,739,395 shares of the industrial products company’s stock valued at $2,052,000 after purchasing an additional 25,462 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in Fuel Tech in the 4th quarter valued at about $26,000. Acuitas Investments LLC increased its stake in Fuel Tech by 36.9% during the 4th quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock valued at $864,000 after buying an additional 221,932 shares during the period. Finally, Essex Investment Management Co. LLC raised its position in shares of Fuel Tech by 42.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock worth $485,000 after buying an additional 119,763 shares in the last quarter. Institutional investors and hedge funds own 20.94% of the company’s stock.

About Fuel Tech

Fuel Tech, Inc provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide. The company operates through Air Pollution Control Technology and FUEL CHEM Technology segments. The Air Pollution Control Technology segment offers technologies to reduce nitrogen oxide (NOx) emissions in flue gas from boilers, incinerators, furnaces, and other stationary combustion sources; NOxOUT and HERT selective non-catalytic reduction systems; selective catalytic reduction systems comprising ammonia injection grid, and graduated straightening grid systems; I-NOx systems; ESP Processes and Services; ULTRA technology; and flue gas conditioning systems.